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Largest US Banks Expect Billions in Loan Losses, Profits Plunge
19.4.2020
Several of the largest U.S. banks have set aside billions of dollars in reserves as they expect massive losses from loan defaults, sending their profits nosediving. Wells Fargo’s first-quarter earnings fell a whopping 90% while JPMorgan Chase’s profit dropped 70%. Bank of America...
Bitcoin Miners Reveal Concerns Over Mining Rig Shipment Delays and Bitcoin Halving
15.4.2020
The cryptocurrency market rout in mid-March, which saw bitcoin’s price slide significantly in value, has strained bitcoin mining operations by slashing considerable revenue from the block rewards. Moreover, shipping delays from mining manufacturers have caused uncertainty and mining...
66,000 Spanish Crypto Traders Warned to Pay Tax on their Earnings
1.4.2020
Source: Adobe/Hugh O'Neill
Either more Spanish citizens than ever before traded in cryptoassets in the past financial year or the country’s tax authorities have become more adept at monitoring citizens’ crypto-related activities. That appears to be the takeaway after Spanish tax authorities said...
Silvergate Bank Adds 48 Crypto Clients in Q4 Even as Deposits Slip 4%
29.1.2020
The La Jolla, Calif.-based bank, which went public on the New York Stock Exchange under the trading symbol SI in November, released its earnings report before market open on Wednesday
How to Navigate the Minefield of Cryptocurrency Taxation
23.11.2019
National tax agencies have recently made it clear that the long arms of the law will be wielded to ensure bitcoiners pay the appropriate tax on their earnings. Motivated by surging interest in crypto, authorities are cracking the whip and instilling fear in those who have, until now, dismissed...
First-Time Bitcoin Buyers ‘Doubled’ in Square’s Q3 Report
6.11.2019
Square processed $148 million in bitcoin sales in the third quarter of 2019. The payments company, founded by Twitter co-founder Jack Dorsey, released its earnings results on Wednesday, reporting revenues of $1.27 billion between July 1 and Sept. 30 of this year. Though Square’s crypto business...
Iranian Crypto Miners Tax Exempt If They Repatriate Offshore Earnings
12.9.2019
Iran's National Tax Administration states that cryptocurrency miners will be eligible for a repatriation tax exemption, similar to non-oil exports
Dark Web Drug Dealer to Forfeit Millions of Dollars in Illicit Crypto Earnings
20.8.2019
A man has been sentenced in San Diego, California, for conspiring to sell opioids and other drugs over dark web markets for cryptocurrencies.
7 things you should know when getting started with Serverless APIs
14.3.2019
I want you to take a second and think about Twitter, and think about it in terms of scale. Twitter has 326 million users. Collectively, we create ~6,000 tweets every second. Every minute, that’s 360,000 tweets created. That sums up to nearly 200 billion tweets a year. Now, what if the creators...